WCB Rebate 100% of Investment Funds

The Saskatchewan Workers’ Compensation Board announced their decision on June 29, 2016 to rebate 100 per cent of the investment funds that are over their mandated surplus levels. This move was strongly advocated for by the Saskatchewan Chamber of Commerce and the Chamber applauds the WCB Board’s decision to act so quickly in releasing the full amount.

Over 40,000 Saskatchewan businesses that will be receiving payments in July 2016 and December 2016 as part of the massive WCB surplus redistribution are very happy with the WCB Board’s decision and remain firmly committed to enhancing their workplace safety.

“The vast majority of Saskatchewan businesses have expressed a sincere interest in maintaining and improving their workplace safety practices and these cheques are a reward for that hard work. Businesses that currently have a positive safety rating with the WCB will soon be receiving cheques. Across the province there will be a total of $281.5 million in rebates being deposited and that is a huge amount of money back in the pockets of businesses,” said Saskatchewan Chamber CEO Steve McLellan.

“While companies will receive a wide range of rebate amounts, from $200 to millions of dollars, we encourage all businesses to reinvest this money back into their current and future safety plans. Making sure staff are well trained and have all the necessary equipment to work safely needs to remain the top priority for businesses. These rebates can help fund those efforts,” said McLellan.

The Saskatchewan Chamber of Commerce also advocated for the distribution of the WCB surplus in 2015, which resulted in a significant refund to many businesses throughout the province.

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The Saskatchewan Chamber of Commerce, through the province’s Chamber Network, represents the interests of over 10,000 businesses. Advocating for expanded opportunities and regulatory simplification, the Chamber encourages strategic economic growth.